As inflation approaches target, debate has intensified over the timing of the next rate cut. But rushing a policy shift on the back of a single data point is risky.
Credibility in monetary policy comes from consistency, not speed — a reason for the central bank to keep favoring a data-dependent approach.
At the same time, delaying too long carries its own costs for the real economy. This moment calls for balance, not urgency in either direction.
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